WASHINGTON (Reuters) - The United States on Friday lifted sanctions on one of two units of the giant Chinese tanker company COSCO, the Treasury said, partially reversing its punishment to the company for transporting Iranian oil after China raised the issue in trade talks with Washington.
President Donald Trump's administration on Sept. 25 blacklisted two units of COSCO, named after the northeastern Chinese port of Dalian. The move sent worldwide freight costs to record highs and disrupted the global shipping market.
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